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Centro Properties has released a dreadful half-year result, with a loss of $1.1bn after writedowns of $856m. $578m was wiped from the company’s $4.3bn New Plan acquisition, while $278m was written down on the group’s direct US property investments and various hedging contracts. Distributable income actually increased, from 20 cents to 22 cents per security, but no distribution will be made for the half. The Australian portfolio performed strongly, but net operating income grew only 2% in the US thanks to the slowdown in consumer spending. Centro’s US assets were...

I was at Centro Warriewood on the weekend and noticed that the asphalt carpark has been re-asphalted. Their was a fair section of the access ways redone, I would envisage at least 300 sqm. Sure the it probably needed to be done, but would seem to be...

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